For ION Geophysical Corporation [IO], Analyst sees a rise to $4.20. What next?


ION Geophysical Corporation [NYSE: IO] slipped around 0.0 points on Wednesday, while shares priced at $0.40 at the close of the session, down -1.12%. The company report on May 3, 2022 that ION completes Colombia Caribe 2D reprocessing program providing enhanced regional understanding of the Caribbean offshore.

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ION Geophysical Corporation (NYSE:IO) announced today that it has completed reprocessing of the prestack time and depth imaging of over 62,000 km of legacy data acquired from the National Hydrocarbon Agency of Colombia (ANH) for its Colombia Caribe 2D reprocessing program. This multi-client reprocessing provides consistent parameterization of 18 surveys with vintages ranging from 1982 through 2014. In combination with PanamaSPAN and AntillesSPAN, the program provides basin-wide coverage of the Caribbean.

“We recognized the value of reprocessing vintage seismic data as not only a proven means for operators to revisit and de-risk frontier basins such as those in offshore Colombia, but also for us to be socially responsible” said Liliana Zuleta, Technical Vice President, ANH. “This is just one of many efforts made to improve the competitiveness and attractiveness of Colombia for offshore investment by E&P companies.”.

ION Geophysical Corporation stock is now -54.91% down from its year-to-date (YTD) trading value. IO Stock saw the intraday high of $0.4497 and lowest of $0.36 per share. The company’s 52-week high price is 2.67, which means current price is +13.63% above from all time high which was touched on 03/08/22.

Compared to the average trading volume of 5.65M shares, IO reached a trading volume of 5375754 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about ION Geophysical Corporation [IO]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IO shares is $1.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IO stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Alliance Global Partners have made an estimate for ION Geophysical Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 02, 2021. While these analysts kept the previous recommendation, H.C. Wainwright raised their target price to Buy. The new note on the price target was released on July 22, 2020, representing the official price target for ION Geophysical Corporation stock.

The Average True Range (ATR) for ION Geophysical Corporation is set at 0.12, with the Price to Sales ratio for IO stock in the period of the last 12 months amounting to 0.11.

How has IO stock performed recently?

ION Geophysical Corporation [IO] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -19.76. With this latest performance, IO shares dropped by -55.42% in over the last four-week period, additionally sinking by -83.11% over the last 6 months – not to mention a drop of -81.80% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IO stock in for the last two-week period is set at 39.68, with the RSI for the last a single of trading hit 37.60, and the three-weeks RSI is set at 41.28 for ION Geophysical Corporation [IO]. The present Moving Average for the last 50 days of trading for this stock 0.7540, while it was recorded at 0.4424 for the last single week of trading, and 1.1700 for the last 200 days.

ION Geophysical Corporation [IO]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and ION Geophysical Corporation [IO] shares currently have an operating margin of -7.56 and a Gross Margin at +34.91. ION Geophysical Corporation’s Net Margin is presently recorded at -30.34.

Return on Total Capital for IO is now -7.50, given the latest momentum, and Return on Invested Capital for the company is -94.20. Additionally, IO Total Debt to Total Capital is recorded at 162.15, with Total Debt to Total Assets ending up at 97.98.

Reflecting on the efficiency of the workforce at the company, ION Geophysical Corporation [IO] managed to generate an average of -$86,974 per employee. Receivables Turnover for the company is 4.04 with a Total Asset Turnover recorded at a value of 0.57.ION Geophysical Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.

Earnings analysis for ION Geophysical Corporation [IO]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IO. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ION Geophysical Corporation go to 18.00%.

Insider trade positions for ION Geophysical Corporation [IO]

There are presently around $2 million, or 19.90% of IO stock, in the hands of institutional investors. The top three institutional holders of IO stocks are: GATES CAPITAL MANAGEMENT, INC. with ownership of 2,672,096, which is approximately -9.539% of the company’s market cap and around 5.30% of the total institutional ownership; VANGUARD GROUP INC, holding 910,310 shares of the stock with an approximate value of $0.36 million in IO stocks shares; and NEUBERGER BERMAN GROUP LLC, currently with $100000.0 in IO stock with ownership of nearly -0.329% of the company’s market capitalization.

Positions in ION Geophysical Corporation stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 19 institutional holders increased their position in ION Geophysical Corporation [NYSE:IO] by around 357,711 shares. Additionally, 20 investors decreased positions by around 826,262 shares, while 6 investors held positions by with 3,650,106 shares. The mentioned changes placed institutional holdings at 4,834,079 shares, according to the latest SEC report filing. IO stock had 10 new institutional investments in for a total of 228,444 shares, while 11 institutional investors sold positions of 433,532 shares during the same period.